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About LinkBacksThe only thing we have got from the bailout money is interest rates on business credit cards shooting through the roof and credit lines going down. If they received this huge influx of cash which makes up almost 10% of the US GDP then why have interest rates on business lines of credit in all forms from credit cards to loans shot up since then? Where is all this money going I thought they said it would be loaned back to us to jumpstart business and get the gears in the economy turning again and we haven't seen any of that going on now have we.
They say he who has the last laugh and that last laugh is coming from mortgage and credit card issuers.
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Green Member
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interest rates on business lines of credit
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Centurion Member & Moderator
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It's disappointing. Small businesses are the backbone of middle America.
Disclosure: I am a moderator/paid staff of this site, which does have advertising relationships with some credit cards that are discussed. Regardless, anything I say is my honest opinion.
Current Cards: American Express: Blue Cash, Simply Cash Bank of America: WorldPoints Platinum Plus Chase: Amazon, British Airways, Cash Plus Rewards, Freedom, Ink Cash Citi: Thank You Premier, Dividend Platinum Select Discover: More
Primary Everyday Card: American Express Blue Cash
Primary Travel Card: Citi Thank You Premier
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Centurion Member
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- Apr 2008
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- the edge of the world
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Business credit cards carry higher processing of fees than regular credit cards. They typically cost merchants 1% more. This category of cards is an incredibly profitable enterprise for the creditor, assuming the cardholders do not default.
I do not foresee this lasting for long. Business credit cards are too big of a money maker for them to do so.
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